US tariff hike may impact Indian Pharma industry
New Delhi: The US government's proposed 25% tariff on imports of automobiles, semiconductors, and pharmaceuticals could have significant repercussions for India's pharmaceutical industry, which heavily depends on exports to the American market.
While India's semiconductor sector is still developing and is expected to see minimal impact, the new tariffs could pose challenges for drug manufacturers. The US is the largest market for Indian pharmaceutical exports, accounting for $8.73 billion in FY24, or 31% of the industry’s total exports, according to the Pharmaceuticals Export Promotion Council of India (Pharmexcil).
Leading Indian pharma companies such as Sun Pharma, Dr. Reddy’s, and Cipla derive a substantial portion of their revenue from the US market. In fiscal 2024, North America contributed 47% of Dr. Reddy’s total sales, 32% of Sun Pharma’s revenue, and 30% of Cipla’s earnings.
Pharmexcil’s director-general Raja Bhanu highlighted that Indian firms play a crucial role in the US pharmaceutical supply chain, supplying four out of every ten prescriptions filled in the country. However, Pharmexcil chairman Namit Joshi downplayed concerns, stating that the competitiveness of Indian generic drug exports would help mitigate the impact of any tariff hikes.
Currently, Indian pharmaceutical imports into the US are not subject to import duties. The proposed tariffs, if implemented, could alter the cost dynamics of the industry and affect profit margins for Indian drugmakers.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
DU college asks students, staff to follow VC's X account, share posts
New Delhi (PTI): Delhi University's Shaheed Bhagat Singh College has asked its students and staff members to follow the official X account of Vice Chancellor Yogesh Singh and actively share his posts expressing solidarity with the Indian Armed Forces.
In an official notice dated May 12 and signed by Principal Arun Kumar Attree, the Shaheed Bhagat Singh College administration said, "All teachers, staff members, and students of the college are hereby requested to follow the Vice Chancellor Prof. Yogesh Singh's official Twitter (now X) account."
The college community is "encouraged to retweet the posts shared through the platform" as a gesture of support and gratitude towards the country's defence forces, it said.
"By amplifying these messages, we not only raise awareness about their courage and sacrifices but also contribute to building a strong sense of national pride and unity within our community," it stated.
Singh created his X account earlier this month and made his first post on May 8. In a post on May 12, he referred to Operation Sindoor, carried out by India in response to the April 22 Pahalgam terror attack.
In his post in Hindi, Singh claimed that Indian forces "destroyed Pakistani terrorist bases and neutralised more than 100 terrorists, including the hijackers of IC814 and the Pulwama terrorists".
The government and armed forces "do more and say less, keeping national interest paramount", he said.
The post concluded with lines from the Hindi poem "Parshuram Ki Pratiksha" by Ramdhari Singh Dinkar, calling for unity and support for the armed forces and Prime Minister Narendra Modi.
